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Oyedele confirmed by Senate on March 12 after two-hour screening.
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Tax reform expert brings 20+ years of fiscal policy experience.
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Key reforms include zero income tax for Nigerians earning ≤N800,000 and relief for small businesses.
President Bola Tinubu has officially sworn in Taiwo Oyedele as Minister of State for Finance at the Aso Rock Presidential Villa.
The brief ceremony took place at the President’s office around 2:30 pm, following security clearance at 2:09 pm. Oyedele was dressed in a navy blue suit, while his wife wore white traditional attire.
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The appointment follows his Senate confirmation on March 12 through a voice vote after a rigorous two-hour screening. Senate President Godswill Akpabio announced the confirmation after the Committee of the Whole adopted the recommendation.
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Tinubu had forwarded Oyedele’s nomination to the Senate on March 3 in line with Section 147(2) of the 1999 Constitution.
Hailing from Ikaram, Akoko, Ondo State, 50-year-old Oyedele brings over 20 years of experience in fiscal policy and tax administration.
Prior to his ministerial role, he chaired the Presidential Committee on Fiscal Policy and Tax Reforms, which undertook a major overhaul of Nigeria’s tax system.
Inaugurated in August 2023, the committee produced four executive bills—the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill—that consolidated over 60 taxes into fewer than 10 statutes.
The reforms, signed into law by Tinubu on June 26, 2025, and effective from January 1, 2026, introduced zero income tax for Nigerians earning N800,000 or less, exempted small businesses with turnover below N50 million from key taxes, and incentivized employment and wage growth.
Oyedele’s swearing-in reinforces Nigeria’s commitment to fiscal reform, streamlined taxation, and economic growth.